To meet the needs of a home inspector, InsureWise provides customized business insurance for you. From slipping on a roof to accidentally damaging a homeowner’s property to errors and omissions; a home inspector insurance policy can help protect you from many of the hazards you may face on the job. We can help you get the best policy to meet your home inspector insurance requirements. Home inspector insurance rates are determined by various factors, such as whether they are employees, or if the business is a sole proprietor for example. Coverage gaps and crippling financial losses can occur from having too little or incorrect coverages.
What Type of Insurance Does Home Inspectors Need?
General Liability: You and your employees form mistakes that can happen on the job, and any resulting lawsuits that your business could be liable for is protected with home inspector coverage. During an inspection an employee leans against an expensive painting, puncturing it, for instance, the damaged can be covered with general liability.
Professional Liability: Your business against claims of negligence, real or not, can be protected with this coverage, also called errors and omissions (E&O) insurance. A buyer claims a roof issue was not noted and alleges negligence, for example.
Additional Home Inspector Insurance that may be Beneficial
Business Owners’ Policy (BOP): Basically, general liability and property damage is combined with BOP as it provides an easy way to combine coverages into one policy.
Workers’ Compensation: You almost always are required to have workers’ comp if you have employees. While on the clock, this protects your employees from injuries or illnesses that can occur.
Errors & Omissions Home Inspector Insurance: This insurance protects home inspectors in case their client files a lawsuit or claim based on financial damages caused by omissions or mistakes in the inspection. It will cover attorney fees, settlements, and any third-parties financial losses. Even if your state does not require it, it is still a good idea to carry errors and omissions insurance.
Insurance for Home Inspectors
When you need insurance for your home inspection business, call InsureWise and let us help you get the right coverage.